I am proud to announce, along with my ECS team the release of the CAMMACD.light indicator and trading module. The ecs.CAMMACD light is exclusively traded on the 4h time frame.
The module itself is very suitable for both part-time and intra-week traders. Of course, the beauty in that is the possibility to trade it with intraday targets exclusively on the 4h time frame.
Different types of traders trade the Forex market. At any given time, short-term traders, intraday traders, swing traders and long-term investors are looking at the same currency pairs and are trying to determine how to place their trades. However, while they may be looking at the same currency pairs, they are not looking at the same trends, momentum gauges and price patterns. Short-term traders are most likely looking at 5-minute to 15-minuted currency charts, while long-term traders are most likely looking at daily to monthly charts. Swing traders on the contrary use 1h to 4h time frames. Support and resistance lines, historical vs now moment buyers and sellers and technical indicators look much different on a 5-minute chart than they see on a daily chart. For example, you may look at a 5-minute chart of the GBP/JPY and see that the pair seems to be in a downtrend. However, If you zoom out to a daily chart, you may notice that the currency pair has been in an uptrend for a long time. So which chart is right? Is the GBP/JPY in an uptrend or is it in a downtrend? The ecs.CAMMACD.light and CAMMACD method solve the problem by defining both Trend and Signal chart.
Trend Chart (D1)
The trend chart helps you to identify an underlying trend that leads the price action. If the currency pair in the trend chart is bullish you should only be looking to buy the currency pair. If the pair in the trend chart is bearish, you should be looking to short (sell) the currency pair. To identify the trend time frame, we usually start with either 4h or daily charts. Once you have marked the higher timeframe trend, you then zoom into the lower time frame to trade it. For ecs.cammacd.light the trend chart is the D1 time frame, while the signal chart is the H4 timeframe.
Signal Chart (H4)
The signal chart is your most important chart. It provides the trading signals that tell you when to look for buying and selling opportunities. For instance, CAMMACD typically uses the MACD to identify trading signals. Using a signal chart in confluence with a trend chart enables you to define potentially profitable trade signals more accurately. The ecs.cammacd.light piggybacks trend from Daily chart onto the signal – H4 chart.
The ecs.CAMMACD.light Indicator Structure
Specially coded ecs.cammacd.light indicator uses different calculations in its equation. RSI, MACD, MAs on both 4h and Daily TF are coded in the indicator so traders will always see the predominant trend in the 4h time frame. Signal chart (4h) time frame also shows previous Daily high/low that act as interim support/resistance levels. In conjunction with camarilla levels that is explained in the video, traders opt to take or skip a trade. ecs.cammacd.light aims to sort the conflicts between various time frame signals by using weekly and monthly levels in confluence with higher time frame (D1) momentum. There are T1 and T2 trades that traders can take, whereas the T1 is the primary while the T2 is usually a scale-in or confirmation trade. There is also, and E1 (early bird) entry that can be traded even before the indicator shows the T1 pattern.
For more info about trading the ecs.cammacd.light, purchase the whole CAMMACD course or the module itself. The existing CAMMACD traders will receive this module for free.
Using multiple time frames provides you with the more accurate trading signal. Better signals lead to much better trades. Better trades, higher the profits. The outcome is a happy trader – you!
Cheers and safe trading,